>> Vinashin chairman faces criminal investigation
>> Vietnam giant Vinashin to undergo Government review
Pham Thanh Binh, former Chairman and Genenal Manager of State-run shipbuilding conglomerate Vinashin, has been arrested and charged.
Inspectors arrive to search Binh\'s house.
The arrest warrant was put into effect by the Ministry of Public Security yesterday at Binh’s home in Hoan Kiem District, Hanoi. Binh has been charged with the crime “Delibrately violating the State’s regulations on economics management causing serious consequences” under Article 165 of the Vietnamese Criminal Laws.
Binh’s arrest, as well as the search for crime-related evidence at his house, were carried out according to Vietnamese law.
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| Pham Thanh Binh, former Chairman and Genenal Manager of Vietnam Shipbuilding Industry Group. |
Relevant authorities are currently still trying to determine the seriousness of Binh’s role so that appropriate disciplinary actions can be taken against him.
According to the Central Inspection Committee’s investigation results, Pham Thanh Binh had been extremely irresponsible in the mobilisation, management and use of State capital, pushing Vinashin to the brink of bankruptcy.
Pham Thanh Binh’s wrongdoings have been identified to stem from both irresponsible neglect and intentional lawbreaking motivated by self-interest, which caused serious economical, political and social consequences, as well as huge debts for Vinashin, affecting the group’s ability to pay it off. Vinashin is currently in billions of dollars of debt with over 5,000 workers having lost their jobs. The group also owes about VND 234 billion (USD 12 million) of unpaid wages and social insurance debts.